RACKSPACE LIMITED
Company number: 03897010
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
10 January 2024
Approved by:
Aimee Marroquin
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 58%
- in 31 to 60 days: 30%
- in 61 days or more: 12%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 37%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
60 Days
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
"All Accounts Payable related queries, disputes, complaints will arrive within the team typically via two methods - direct telephone calls or into a dedicated shared mailbox. This mailbox is monitored on a daily basis with a view of intercepting incoming mail in the quickest time possible. Expected response time is 48hrs. The team is divided up into individual areas of ownership based on internal vendor classification (alphabetical, critical and non critical). This allows for a dedicated point of contact being available to our vendors. Each AP Specialist is responsible for handling their individual workload and can typically handle the large majority of incoming queries. Should there be a need, escalation points are in place to ensure more intricate issues are given the attention needed. Level 4 AP specialists are the first point of escalation and if needed can then go up as far as the AP Manager to resolve."
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: Prompt Payment Code
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No